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5 Steps of the Methodology (1)
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Category: Trading System

5 Steps of the Methodology By Barry Burns

5 Steps of the Mthodology

>NEW MATERIAL:

> Internal Indicators

> New Trading Indicators

> Finding the Best Opportunities/Scanning for Stocks

Rules of the Methodology

! 1. EXTREME Cycle Ind. or CCI: (also double CCI & second chances) on LT chart (setup)

!2. REASONS TO STAY OUT on LT chart (“Extreme Vertical Kamikazes”) (filters)

!3rd cycle retrace in trend or extended move (know extended daily range & watch for

reversals)

!Vertical retrace: take the second or third trigger

! KAMIKAZE: HH/LL Reversal Pattern

!3. REASONS TO GET IN on LT chart (confirmation)

! LT chart setup: At least 1 indicator on LT chart angling in direction of the trade.

!4. ENTER a setup on the ST chart (“BEST”): (triggers)

!1. Cycle Indicator Extreme 3. Cycle Indicator Second chance

!2. CCI Extreme 4. Bar Pattern Reversal (H&S, DT, DB, HL, LH, waves, spike)

!5. EXIT (money management):

!Exit 1 = Before first S/R (take off at FIRST impulse or stop at 1:1 R/R or all 4 flip back BEFORE

first S/R.

!Exit 2 = Trailing stop AFTER break first minor S/R on ST chart (close to 2:1 risk/reward).

!Exit 3 = Trail on other side of last swing H/L until LT chart's oscillator gets to other side of the

range, THEN use a trailing stop on the short term chart. Don’t exit